Economic accounts

Ongoing work:

• In coordination with Eurostat, implement the revised European legislation on national accounts, i.e. the European System of national and regional accounts in the Community (ESA2010) in all related EU and ECB legal acts to achieve a simultaneous ESA 2010 implementation in 2014.

• Further develop the system of quarterly integrated accounts by institutional sector for the euro area (the area formed by those European Union (EU) Member States whose currency is the euro), also aiming at further enhancing the consistency between different statistics and its timeliness. These euro area accounts are prepared by the ECB and the National Central Banks, together with Eurostat and the national statistical institutes. The sectors covered are non-financial corporations, financial corporations, government, households and the rest of the world. Further milestones include a timelier delivery, no later than 90 days after the reference quarter, and the extension of the accounts to the 27 EU Member States.

• Contribute to the development of international statistics standards through, for example, an active participation in the Advisory Expert Group on National Accounts, which following the revision of 2008 SNA, is in charge of the long-term Research Agenda.